WARREN, Mich.–Ukrainian Future Credit Union has merged into Selfreliance Ukrainian American FCU in Chicago.
The $78-million Ukrainian Future CU was placed into conservatorship by the Michigan Department of Insurance and Financial Services on Feb. 23, 2018, with NCUA appointed as conservator.
“The two agencies worked together to address issues affecting the credit union’s safety and soundness and determined that merging Ukrainian Future Credit Union into Selfreliance Ukrainian American Federal Credit Union was in the best interests of the members,” NCUA said in a statement.
Prior to the merger, Selfreliance Ukrainian American Federal Credit Union served 20,359 members and had assets of $485.9 million, according to the credit union’s most recent Call Report. Ukrainian Future Credit Union has approximately 3,652 members. It was chartered in 1961 to serve members of the Future Ukrainian-American Aid Association of Detroit.